Flughafen Wien AG · VIE:FLU
Flughafen Wien — Investor Presentation (September 2025)
45 slides from Flughafen Wien's investor presentation, September 2025
Slide 1: Flughafen Wien Investor Presentation
September 2025 Flughafen Wien Investor Presentation 1
Slide 2: Flughafen Wien AG: company profile
PAX Vienna Airport 2019: 31.66 mn Flughafen Wien AG: company profile 2024: 31.72 mn 2025e: approx. 32 mn − Vienna Airport, Europe’s 19th largest airport with 31.72 million PAX in 2024 (31.66 million PAX in 2019) PAX Flughafen Wien Group − Vienna Airport Group consisting of Vienna Airport, Malta Airp
Slide 3: Investment Case Vienna Airport share
Investment Case Vienna Airport share − Trend growth – long term structural increase in flight traffic Growth − Non-aviation – expansion of retail & gastronomy, development of the AirportCity − Rise in the EBITDA margin to clearly above 40% (2024: 42.0%, 2023: 42.2%) Profitability − Ownership of exte
Slide 4: Sustainable, long-term PAX growth
PAX European airports (millions)1 PAX Vienna Airport (millions) Sustainable, 3.000 PAX (in Mio). 35,0 PAX (in Mio). long-term PAX 2.500 CAGR 2000-2019 4.7% 30,0 CAGR 2000-2019 5.3% growth 2.000 25,0 20,0 1.500 15,0 Trend growth and quick 1.000 10,0 recovery after 500 downturns 5,0 - - 2000 2003 2006
Slide 5: Aviation remains a growth sector
Aviation remains a growth sector New long-term studies by Airbus & Boeing (horizon 2044) Doubling of the current fleet1 − Airbus and Boeing expect close to a doubling of 49,210 the global aircraft fleet to approx. 50,000 airplanes by 2044 (+3.5% p.a.) − Expansion will be mainly driven by the Asia- 2
Slide 6: Tariff regulations
Tariff regulations Competitive tariff and incentive system − Price cap of the adjustments to charges and the methodology of the adjustments are regulated by the Airport Charges Act − Temporary suspension of the tariff formula (function of PAX growth and inflation) due to Covid-19 related distortions
Slide 7: Leveraging non-aviation potential
Leveraging non-aviation potential Terminal 3 Southern Expansion − Enlargement of Terminal 3 by approx. 70,000 m² (“Terminal 3 Southern Expansion“) − Passengers await an enhanced quality of their time at the airport featuring greater comfort, service and a significant expansion of their shopping and
Slide 8: The AirportCity is growing quickly
The AirportCity is growing quickly Boom in business location projects – development of the landbank − The Vienna Airport site with 23,000 employees continues to be the biggest employer in the Eastern Region of Austria − Ongoing strong interest in office and operating premises in the AirportCity − TU
Slide 9: Ownership of property and buildings
Ownership of property and buildings Contributes to a higher enterprise value − Flughafen Wien AG is the owner of all properties (about 1,080 hectares), the buildings enabling airport operations as well as the main car parks, business premises and office buildings − No concession fees in contrast to
Slide 10: Elimination of debt
Elimination of debt Leads to a positive financial result Net liquidity (in € million) 512 − Net liquidity at € 398 million in H1/2025 398 (FY 24: € 512 million) 400 − Dividend payment in the amount of € 147.2 200 million in Q2/2025 (€ 138.4 million to Flughafen Wien AG shareholders, € 8.8 million 0
Slide 11: Dividend increase to € 1.65 per share in 2024
Dividend increase to € 1.65 per share in 2024 Shareholders and employees participate in the company‘s success Dividend per share (in €) 1.65 − Dividend of € 1.65 per share for 2024, 1,65 (€ 1.32 in 2023), 1,50 − Dividend represents a dividend yield of 3.2%1 1,35 1,20 − Dividend policy: Payout ratio
Slide 12: Incoming traffic to the destination of Vienna
Incoming traffic to the destination of Vienna Tourism hotspot & congress city, international organisations & headquarters − Vienna is among the top 10 tourist cities in Europe (#9 in 2024) → 8.2 million arrivals in 2024, +10% compared to 2019, +7% in H1/2025 − Airplane preferred means of travel (39%
Slide 13: Outgoing traffic: Catchment area
Outgoing traffic: Catchment area Prague 16.3 Mio Pax Population of Catchment Area Destinations: 181 6.6 Mio. Continental: 142 Intercontinental: 39 15.3 Mio. Destinations: 62 24.0 Mio. Continental: 46 Intercontinental: 16 The catchment area Vienna Bratislava 31.7 Mio Pax 1.9 Mio Pax encompasses both
Slide 14: Quality
Punctuality in H1/2025 (top 15, hub airports >25 million PAX)1 Quality Oslo OSL 87.6% Copenhagen CPH 85.2% Sustained top Vienna VIE 82.6% performance in the London LHR 80.8% Lufthansa Group, Munich MUC 80.0% clearly ahead of London LGW 78.3% Munich, Zurich and Dublin DUB 76.3% Rome FCO Frankfurt 76.
Slide 15: Consistent energy and environmental management
Consistent energy and environmental management Sustainability as the basis for successful and responsible actions − Since January 2023, CO2-neutral operation of Vienna Airport according to the definition of the Airport Carbon Accreditation Scheme (ACAS, Level 3+) of the Airport Council International
Slide 16: Cargo – VIE a modern cargo hub
Cargo – VIE a modern cargo hub Good geographical location and high-quality service are the decisive factors − Significant increase in cargo volume of 21.6% to 297,945 tonnes in 2024 (+5.0% vs. 2019) – belly freight with +43.8% vs.2023, strong growth of imports and exports − Continued strong momentum
Slide 17: Traffic & Business Results H1/2025
Traffic & Business Results H1/2025 17 17
Slide 18: Traffic development in H1/2025 & 1-8/2025
Traffic development in H1/2025 & 1-8/2025 Robust passenger growth in the Flughafen Wien Group Flughafen Wien Group H1/2025 Δ H1/2024 1-8/2025 Δ 1-8/2024 passenger development1 Vienna Airport (millions) 14.7 +2.4% 21.4 +1.8% Malta Airport (millions) 4.5 +11.7% 6.6 +10.8% Košice Airport (millions) 0.3
Slide 19: Traffic development in H1/2025 & 1-8/2025
Traffic development in H1/2025 & 1-8/2025 Slight passenger growth at Vienna Airport in the first half-year Vienna Airport traffic development1 H1/2025 Δ H1/2024 1-8/2025 Δ 1-8/2024 Passengers (millions) 14.7 +2.4% 21.4 +1.8% Local passengers (million) 11.7 +3.5% 16.8 +2.7% Transfer passengers (milli
Slide 20: Regional passenger development in H1/2025
Regional passenger development in H1/2025 Further recovery in the Far East Departing passengers, development H1/2025 vs. H1/2024 and share of total passenger volume in H1/2025 Passenger rise of 32.5% Europe +0.7% − New destinations and resumption of thereof Western 84.9% flight service (Scoot, ANA,
Slide 21: Market share of airlines
Market share H1/2025 Share in % Passengers PAX Δ% vs. H1/2024 of airlines 1. Austrian Airlines 2. Ryanair/Lauda* 44.4 21.2 6,544,352 3,121,630 0.7 2.2 3. Wizz Air * 6.0 891,537 -3.4 4. Eurowings * 2.4 352,093 -6.6 Slight growth of 5. Pegasus Airlines 1.9 276,770 23.9 Austrian Airlines despite 6. Tur
Slide 22: Traffic forecast for 2025
Traffic forecast for 2025 Slight growth expected at Vienna Airport and in the Flughafen Wien Group Flughafen Wien AG Guidance 2025 2024 Passengers approx. 32 million 31.7 million Flughafen Wien Group Guidance 2025 2024 Passengers approx. 42 million 41.4 million − Following growth in H1/2025, about s
Slide 23: Earnings improvement in H1/2025
Earnings improvement in H1/2025 EBITDA +3.3% to € 211.7 million, net profit for the period +6.2% to € 115.1 million € million H1/2025 H1/2024 Δ Revenue 524.4 488.4 +7.4% Earnings before interest, tax, depreciation and amortisation 211.7 204.9 +3.3% (EBITDA) Earnings before interest and taxes (EBIT)
Slide 24: Expenses
Expenses Continuous rise in personnel expenses € million H1/2025 H1/2024 Δ Consumables and services used -28.2 -26.9 +5.0% Personnel expenses -205.4 -189.6 +8.4% Other operating expenses1 -86.5 -74.6 +16.0% Depreciation and amortisation -65.5 -66.2 -1.0% EBITDA margin 40.4% 42.0% -1.6%p EBIT margin
Slide 25: Cash flow and balance sheet structure
Cash flow and balance sheet structure Investments for airport location growth in Vienna and Malta € million H1/2025 H1/2024 Δ Cash flow from operating activities 157.1 178.3 -11.9% Free cash flow 147.4 104.1 +41.5% Capex 140.2 83.1 +68.6% Net liquidity1 -398.4 -511.6 -22.1% Equity1 1,634.6 1,667.2 -
Slide 26: Financial guidance for 2025
Financial guidance for 2025 Unchanged outlook for the current financial year Revenue approx. € 1,080 million EBITDA approx. € 440 million 1 Group net profit approx. € 230 million CAPEX approx. € 300 million − Strong financial position enables financing of increasing investments from the cash flow 1)
Slide 27: Airport
Airport Increased passenger traffic leads to revenue and earnings improvement − Rise in passenger-related fees of 4.1% to € million H1/2025 H1/2024 Δ € 175.7 million due to passenger growth External revenue 245.1 233.9 4.8% (+2.4%) and fee adjustments; dampening effect from temporary increase in inc
Slide 28: Handling & Security Services
Handling & Security Services Break-even operating result for H1/2025 − Ground handling benefits from increased € million H1/2025 H1/2024 Δ traffic-related revenue (flight movements External revenue 95.8 85.2 12.5% +3.0%) and de-icing fees – revenue +14.4% to € 63.8 million EBITDA 4.2 6.4 -34.2% − Co
Slide 29: Retail & Properties
Retail & Properties Good development of the non-aviation business − Robust 9.4% revenue increase of Center € million H1/2025 H1/2024 Δ Management & Hospitality to € 51.1 million External revenue 101.5 93.7 8.3% − Visible growth of shopping (expansion of duty- EBITDA 53.7 50.3 6.9% free space in Term
Slide 30: Malta
Malta Strong performance due to continued passenger growth − Very good revenue and earnings performance € million H1/2025 H1/2024 Δ thanks to strong passenger growth of 11.7% to External revenue 71.9 64.4 11.6% 4.5 million passengers in H1/2025 EBITDA 45.5 41.0 11.0% → Revenue up 11.6% to € 71.9 mil
Slide 31: Traffic & Business Results 2024
Traffic & Business Results 2024 31 31
Slide 32: Traffic development 2024
Traffic development 2024 Flughafen Wien Group: Record passenger numbers at all three airports Group passenger development 2024 2023 2019 Δ 2023 Δ 2019 (millions) Vienna Airport (millions) 31.7 29.5 31.7 7.4% 0.2% Malta Airport (millions) 9.0 7.8 7.3 14.8% 22.5% Košice Airport (millions) 0.7 0.6 0.6
Slide 33: Traffic development 2024
Traffic development 2024 Vienna Airport: New passenger record with fewer flight movements than in 2019 Traffic development at Vienna 2024 2023 2019 Δ 2023 Δ 2019 Airport1 Passengers (millions) 31.7 29.5 31.7 7.4% 0.2% Local passengers (million) 24.9 22.8 24.3 8.9% 2.2% Transfer passengers (millions)
Slide 34: Passenger development 2024
Passenger development 2024 86% of traffic on intra-European routes Europe thereof +8.5% thereof 2024 Western Europe 85.9% Eastern Europe Growth e.g., to London, Istanbul, Berlin, +8.5% − 72 Airlines Malaga, Zurich, Athens, Frankfurt and Rome 69.3% +8.4% Growth e.g., to Tirana, Sofia, 16.6% Split, Ch
Slide 35: Market share of airlines
Market share 2024 Share in % Passengers PAX Δ% vs. 2023 PAX Δ% vs. 2019 of airlines 1. Austrian 2. Ryanair/Lauda 46.0 20.9 14,581,301 6,643,398 5.2 11.6 6.6 150.0 3. Wizz Air 6.4 2,016,566 -0.7 -3.1 4. Eurowings 2.5 786,690 12.9 -65.5 Relatively constant 5. Turkish Airlines 1.8 578,867 -16.8 5.2 sha
Slide 36: Growth in all divisions in 2024
Growth in all divisions in 2024 Good traffic momentum and positive financial result as profit drivers € million 2024 2023 Δ Revenue 1,052.7 931.5 13.0% Earnings before interest, tax, depreciation and amortisation 442.3 393.6 12.4% (EBIDTA) Earnings before interest and taxes (EBIT) 306.1 261.8 16.9%
Slide 37: Expenses
Expenses Stable margin development despite cost pressure € million 2024 2023 Δ Consumables and services used -55.7 -54.1 2.9% Personnel expenses -386.1 -349.4 10.5% Other operating expenses1 -190.1 -142.6 33.3% Depreciation and amortisation -135.8 -131.8 3.1% EBITDA margin 42.0% 42.2% EBIT margin 29
Slide 38: Cash flow & equity
Cash flow & equity Good operating cash flow development, increase in capital expenditure € million 2024 2023 Δ Cash flow from operating activities 443.7 384.8 15.3% Free cash flow 114.2 228.2 -49.9% CAPEX 189.8 107.0 77.4% Net liquidity 511.6 361.9 41.4% Equity 1,667.2 1,556.4 7.1% Equity ratio 69.5
Slide 39: Airport
Airport Good traffic development ensures significant revenue and earnings growth − Airport segment with highest share of revenue € million 2024 2023 Δ and earnings of 48% and 41%, respectively External revenue 506.6 440.1 15.1% − Rise in passenger-related fees by +18% EBITDA 204.3 176.7 15.7% to € 3
Slide 40: Handling & Security Services
Handling & Security Services Cargo record at Vienna Airport and ongoing high service quality − Record cargo volumes at Vienna Airport support € million 2024 2023 Δ significant earnings improvement in handling External revenue 177.8 165.7 7.3% − Pronounced rise in cargo volumes of 21.6% vs. EBITDA 17
Slide 41: Retail & Properties
Retail & Properties Expanded offering, passenger growth ensure a substantial improvement − Center Management & Hospitality (+13%) € million 2024 2023 Δ and parking (+9%) strongly benefit from External revenue 203.0 182.5 11.2% passenger growth EBITDA 113.9 100.6 13.2% − Following its expansion to 2,
Slide 42: Malta
Malta Very dynamic passenger development – Volume more than doubled since 2014 − Record passenger volume of 9.0 million € million 2024 2023 Δ passengers (+14.8% vs. 2023, +22.5% vs. 2019) ensures a marked earnings improvement External revenue 142.9 120.2 18.8% − Malta Airport contributes 23% to the
Slide 43: Financial Calendar 2025
Financial Calendar 2025 11 September: Traffic results August 2025 14 October: Traffic results September 2025 18 November: Q1-3/2025 results, traffic results October 16 December: Traffic results November 2025 43
Slide 44: Contact
CONTACT Bernd Maurer Head of Capital Markets +43-1-7007-23126 +43-664-8357723 b.maurer@viennaairport.com 44 44
Slide 45: Disclaimer
Disclaimer The presentation represents an assessment that we have made on the basis of all the information available to us at the current time. If the assumptions on which the presentation is based do not materialize or risks arise to an extent not calculated, the actual results may differ from our
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